NEW YORK — Thomas F. Schuster has resigned as president and chief executive officer of Alba-Waldensian, the Valdese, N.C., hosiery and intimate apparel maker.
Lee Mortenson, who has served on the company’s board of directors since 1984, has succeeded Schuster, according to Clyde William Engle, chairman.
Engle said Mortenson will continue as president and chief operating officer of Sun States Corp., Raleigh, N.C., a holding company and major stockholder of Alba-Waldensian.
Reached by phone at his home in Hickory, N.C., Schuster said he officially stepped down Monday, but he declined to elaborate. In addition to his executive post, Schuster said he is giving up his seat on the board of directors.
Engle said he only knew that Schuster quit “to do other things,” but he didn’t know what they were.
Schuster said he has not accepted a post with another firm, but he plans to continue working in the hosiery or intimate apparel industry.
Prior to joining Alba-Waldensian five years ago, he was president of Gold Toe, a socks and tights label produced by Great American Knitting Mills.
Alba-Waldensian produces and markets women’s hosiery and intimate apparel under the All Day Long, While You Wait and Big Beautiful Woman labels.
The company also produces socks and sweaters under the Byford and Smithsonian Institution Collection labels as well as Greg Norman socks.
The company, which also produces medical specialty products, employs about 850 people at its facilities in Valdese and Rockwood, Tenn.